Defending champion Lewis Hamilton said Thursday he hadn't yet reached the peak of his powers as he embarks on the weekend's Australian Grand Prix in search of a fifth Formula One crown.
Hamilton, who is reportedly about to sign a new contract with Mercedes-GP, says he is ready to break down new barriers at the age of 33.
While appearing disinterested for large parts of the drivers' news conference ahead of Sunday's Melbourne opener, Hamilton said he was definitely ready to take on all-comers in the 21-race season.
The British driver was asked if he had reached his peak. "I hope not," he said.
"I'm sure there is a peak for a driver when his fitness levels get harder to reach, when your interest and drive starts to decline.
"I guess that's when you're over your peak, but I definitely feel I'm not at that [stage]."
The Englishman, who beat Ferrari arch-rival Sebastian Vettel to win last year's world title with two races to spare, said he is eyeing new highs this year.
"In my mind I'm trying to break down new barriers, push the envelope and see how far I can take it. Firstly, the opportunity that I have and obviously the ability I have to realise my full potential," he said.
"I don't know what that is and that's what I'm discovering."
Hamilton said inconsistency issues were now in the past as he seeks his fourth world title in five years after winning his first one with McLaren in 2008.
"I think there are a lot of people that need to get headlines, so that's one way of saying it," he said.
"But, I think the important issue is to be more consistent than I was last year. I think consistency was the reason I won the world championship."
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Read more:
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Formula One 2018 success could hinge on Valtteri Bottas' ability to beat teammate Lewis Hamilton
Formula One 2018 calendar: Race dates - all in UAE time
Reigning Formula One champion Lewis Hamilton not close to 'final chapter'
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Hamilton, who showed little interest in elaborating on his answers to media questioning at his conference, said he was focused on racing.
"I'm definitely not tired, this is the 12th season I'm doing the press conferences," he said.
"I'm definitely not the most excited about this section of the season and the race weekend, but I'm looking forward to getting in the car."
He had words of praise for his rival Vettel, sitting alongside him at the media conference.
"The ultimate goal to be the best is that you're going to have to go up against the best," he said of Vettel.
"He's got the four world titles, had the most of any other driver at the time and I think this is an exciting year for Formula One fans that we have two four-time world champions battling it out."
Hamilton has won twice in Melbourne, in 2008 and 2015, and has won 62 of his 208 GPs.
He already holds the record for most pole positions with 72 ahead of Michael Schumacher's 68.
TECH%20SPECS%3A%20APPLE%20WATCH%20SERIES%208
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OPINIONS ON PALESTINE & ISRAEL
Another way to earn air miles
In addition to the Emirates and Etihad programmes, there is the Air Miles Middle East card, which offers members the ability to choose any airline, has no black-out dates and no restrictions on seat availability. Air Miles is linked up to HSBC credit cards and can also be earned through retail partners such as Spinneys, Sharaf DG and The Toy Store.
An Emirates Dubai-London round-trip ticket costs 180,000 miles on the Air Miles website. But customers earn these ‘miles’ at a much faster rate than airline miles. Adidas offers two air miles per Dh1 spent. Air Miles has partnerships with websites as well, so booking.com and agoda.com offer three miles per Dh1 spent.
“If you use your HSBC credit card when shopping at our partners, you are able to earn Air Miles twice which will mean you can get that flight reward faster and for less spend,” says Paul Lacey, the managing director for Europe, Middle East and India for Aimia, which owns and operates Air Miles Middle East.
Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.
Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.
“Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.
Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.
“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.
Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.
From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.
Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.
BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.
Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.
Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.
“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.
Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.
“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.
“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”
The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”
WISH
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The%20specs
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The specs: 2018 Genesis G70
Price, base / as tested: Dh155,000 / Dh205,000
Engine: 3.3-litre, turbocharged V6
Gearbox: Eight-speed automatic
Power: 370hp @ 6,000rpm
Torque: 510Nm @ 1,300rpm
Fuel economy, combined: 10.6L / 100km
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Essentials
The flights
Emirates, Etihad and Malaysia Airlines all fly direct from the UAE to Kuala Lumpur and on to Penang from about Dh2,300 return, including taxes.
Where to stay
In Kuala Lumpur, Element is a recently opened, futuristic hotel high up in a Norman Foster-designed skyscraper. Rooms cost from Dh400 per night, including taxes. Hotel Stripes, also in KL, is a great value design hotel, with an infinity rooftop pool. Rooms cost from Dh310, including taxes.
In Penang, Ren i Tang is a boutique b&b in what was once an ancient Chinese Medicine Hall in the centre of Little India. Rooms cost from Dh220, including taxes.
23 Love Lane in Penang is a luxury boutique heritage hotel in a converted mansion, with private tropical gardens. Rooms cost from Dh400, including taxes.
In Langkawi, Temple Tree is a unique architectural villa hotel consisting of antique houses from all across Malaysia. Rooms cost from Dh350, including taxes.
The specs
Price, base / as tested Dh12 million
Engine 8.0-litre quad-turbo, W16
Gearbox seven-speed dual clutch auto
Power 1479 @ 6,700rpm
Torque 1600Nm @ 2,000rpm 0-100kph: 2.6 seconds 0-200kph: 6.1 seconds
Top speed 420 kph (governed)
Fuel economy, combined 35.2L / 100km (est)
